About Solid Rock Microfinance Bank
Empowering communities through tailored microfinance solutions, financial inclusion and trusted service.
Over three decades of community banking in Abeokuta
Solid Rock Microfinance Bank Limited, formerly Oke-Ona Egba Community Bank Nigeria Limited, was incorporated under the Companies and Allied Matters Act 1990 on 26th July 1991 with Certificate Number RC 167097, and subsequently received a formal banking licence (No. 000473) from the Central Bank of Nigeria on 25th May 2004. The Bank commenced operation with an authorised, fully paid share capital of ₦250,000.
In 2006, the Central Bank of Nigeria mandated all community banks in Nigeria to raise their capital to ₦20,000,000 to enable them to transform into microfinance banks. Many community banks lost their identity through acquisition or merger, but by the special grace of God and the great commitment of its shareholders, Oke-Ona Egba Community Bank Nigeria Limited scaled through the hurdle and transformed into Solid Rock Microfinance Bank Limited with an enhanced capital base.
The new bank received its final licence on 2nd January 2009, with an authorised paid-up capital of ₦40,000,000. The Shareholders’ Fund as at 31st December 2008 stood at ₦45,167,651.
Milestones
Incorporated as Oke-Ona Egba Community Bank Nigeria Limited (RC 167097).
Formal banking licence granted by the Central Bank of Nigeria.
CBN recapitalisation directive: community banks required to raise capital to ₦20 million to become microfinance banks.
Shareholders’ Fund stands at ₦45,167,651.
Final licence received as Solid Rock Microfinance Bank Limited, with paid-up capital of ₦40 million.
Four branches across Abeokuta and Ifo, 50,000+ clients and over ₦90 billion in total transactions.
Key facts
Our Vision
To be a strong and most trusted Microfinance Bank with vibrant and progressive customers.
Our Mission
To provide our customers with highly standardised and cost-effective financial services specially designed to meet their peculiar needs and capable of stimulating sustainable growth in their businesses and environment.
Our Values
Integrity
Professionalism
Customer Care
Community Development
Advantages of Microfinance
- Access to affordable and dependable financial services for the underserved.
- Mobilisation of savings to support investment and growth.
- Creation of employment and increased productivity.
- Non-collateral lending models designed for people and their cashflows.
Ready to bank with Solid Rock?
Visit any of our four branches in Ogun State, or check what you need to open an account today.